Top 7 Business Practices for Notaries

In order to effectively maintain your current client list while also working to expand it and keep your business thriving, it is imperative you adhere to some primary principals to keep you focused, on track and constantly moving at full steam:

  1. Don’t bite off more than you can chew.  Never take on more assignments than you can actually handle.  If you do, you will fail at some of the closings you are contracted for and will soon get the reputation of not being reliable.  It is much better to only take on closings you can complete with 100% accuracy and keep your reputation spotless.  When balancing what you can and can’t handle, be sure to allocate enough time for possible delays.  Also, for any closing you have to turn down, try to give a referral to another notary.  Instead of thinking of it as handing over your competition, think of it as servicing the client needs the best way you can at the time and know that most clients will not forget your willingness to help and will either come back to you or send a referral to you as a thank you.  The other notary may also be obliged to return the favor.
  2. Always, no matter what, triple check the signing packages for accuracy.  In this industry, there is no room for mistakes.  However, mistakes are currently on the rise.  Make sure you have properly completed and stamped all documents needed.  When you consistently close without mistakes, your great reputation will soon get around.
  3. Pay close attention to the details!  Lender instructions and confirmation order requests should be reviewed a few times to ensure nothing is missed.  Some may include special requests or unique instructions, so be sure you are knowledgeable of the full scope of the closing and you meet the demands without any bumps in the road.
  4. Review the HUD. Please take time to review the financials of the closing.  Make sure you know what funds are needed to close the loan and how much of that may go to the borrower.  If not, this can equal huge headaches down the line.
  5. Stay on top of industry changes and latest news.  Continuing to stay up-to-date and educated in this niche is absolutely mandatory.  Know what mortgage trends are in effect, such as reverse mortgages, short sales, eSignings, etc.  Follow blogs, industry groups, networks and the leaders in the mortgage and real estate industry.  Remember new lender requirements are always subject to change, so when in doubt ask the questions to get the answers you need.
  6. Be honest.  No matter what, always be truthful.  Never provide embellished information on any of your profiles, whether online or off.  If you do, while you may get it past a couple of clients, eventually it will become transparent and you will not only look silly, but your reputation will become that of being false, unreliable, untrustworthy and even shady.  It’s definitely not worth the risk.
  7. Be aware of what you post on the Web.  What you say and how you say it may be reducing the amount of business you receive.  If you are posting too much personal information, you will be perceived as one who puts business second (or even third, fourth and so on) to other aspects of your life.  If you are a complainer, you will be passed over.  Nobody wants to work with someone who complains or has too much drama to be able to focus and function.  Nor does anyone want to work with someone who bad mouths.  If you speak ill of one client, other clients will assume you will speak ill of them too and they will steer clear of you.  Stay professional and stay positive.

These top 7 tips should help you a great deal in staying on tracking and growing your business.  Please feel free to share any tips you have found to be helpful as well. I’d love to have your feedback:  Nicole at APAT

One Response to Top 7 Business Practices for Notaries
  1. Tracy Moring
    February 12, 2010 | 11:13 pm

    Sadly unbelievable that there are not more people with business practices like you Nicole! Once again, thank you.